Housing prices in secondary market of Tashkent grew by 19.8%, rental housing – by 43% since year beginning

An analysis of the real estate market since the beginning of the year showed an increase in sales by 9.2%. At the same time, average housing prices in Tashkent increased by almost 20%.

Photo: Kun.uz

Experts from the Center for Economic Research and Reform (CERR) believe that the increase in demand for rental housing could contribute to a slight decline in sales in October.

In October, the high activity of sales in the real estate market, which began in the summer, was replaced by a slight decline. However, the number of real estate purchase and sale transactions increased by 4.3% compared to October last year.

The highest growth rates of sales since the beginning of the year were noted in Jizzakh (42%), Syrdarya (29%) regions, and in Tashkent (15%).

According to the data, in Tashkent there was a slight decrease in the sale and purchase of housing (72 units). At the same time, the average cost of rent in the capital in October increased by 17% and amounted to $10.5 per 1 sq. m., and since the beginning of the year this figure has increased by more than 43%.

The highest rates of growth in rental prices were noted in Almazar (49%), Yashnabad (44%), Sergeli (34%) and Shaykhantakhur (33%) districts.

The highest rental prices were recorded in Shaykhantakhur, Mirabad and Yakkasaray districts. Relatively low prices were noted in Uchtpepa, Sergeli and Bektemir districts.

In general, since the beginning of the year, the growth in housing sales amounted to 9.2% compared to the same period last year.

Activity in the secondary residential real estate market

According to calculations, in October the average cost of housing in the secondary market in the republic grew by 2.3% (in September – 1.1%). So, since the beginning of the year, the average cost of housing per 1 sq. m. in the secondary market increased by 11.4%.

A significant increase in prices in October was noted in Syrdarya (6.5%), Kashkadarya (6.5%) and Tashkent city (4.6%).

The growth in housing prices in the secondary market in Tashkent amounted to 4.6% (in September – 1.7%). At the same time, since the beginning of the year, average prices in the capital have increased by 19.8%, which indicates a significantly increased demand, including as a result of the influx of foreign citizens.